Company
Hormel Acquires Brazilian Cold Cuts and Meats Company
Meat & Poultry
Βι¶ΉΣ³» Corp. has acquired Cidade do Sol, a Brazilian cold cuts and meats manufacturer, for approximately $104 million.
Cidade do Sol processes such value-added products as mortadella, sausage and salami. The products are sold both in retail and food service under the Ceratti brand.
“Strategic international growth is important to Βι¶ΉΣ³» and South America has been of interest to us for several years,” said Jim Snee, president and CEO of Βι¶ΉΣ³». “The Ceratti brand has a strong family ownership and a rapidly-growing distribution of its portfolio of value-added products. This acquisition is a strategic fit for Βι¶ΉΣ³», provides us an initial entry into the Brazilian market and will serve as a platform for future growth in South America.”